Zoopla hires bankers to draw up options for sale September 8, 2013 PROPERTY search website Zoopla yesterday said it had hired investment bankers from Credit Suisse as it eyes a float or potential sale of the business. The company, which is controlled by Daily Mail General Trust, is understood to have commissioned the bank to draw up a list of proposals to determine the future of the [...]
Kitchen King lines up advisers for flotation September 8, 2013 THE OWNER of household appliances website AO.com – previously known as Appliances Online – is understood to have hired banks to work on a £300m flotation on the London Stock Exchange. John Roberts, the founder of DRL Limited, which owns AO.com, has reportedly hired Jefferies and JP Morgan to prepare the company for a listing. [...]
Bottom Line: Don’t get overexcited at the first signs of life September 8, 2013 THERE’S two ways to look at London’s initial public offering (IPO) market in light of the torrent of floats (about 15 at the last count) coming to market. One, that this is the natural release of pent up demand as market sentiment improves. Or two, that slightly frothy markets have got everyone a bit too [...]
PwC boss sees reasons to be cheerful in flat markets September 8, 2013 Chairman Ian Powell tells Marion Dakers about how the accountancy firm is seeking new sources of growth I’M slightly concerned,” says Ian Powell. “I thought that the activity in the transfer window was tense, and we have not gotten off to the best of starts.” The chairman of PwC UK might be harbouring doubts about [...]
Monte Paschi doubles plans for capital hike September 8, 2013 ITALY’S Banca Monte dei Paschi di Siena will seek €2.5bn (£2.13bn) in extra capital from investors, more than double its original plan, under a revised bailout to shore up the loss-making bank, the economy ministry said last night. The revised plan is the latest measure in a painful recovery process for Italy’s number three bank, [...]
New Australian Prime Minister pledges to scrap green taxes September 8, 2013 AUSTRALIA’S Prime Minister-elect Tony Abbott yesterday said his first priorities are to scrap a tax on carbon emissions and stop asylum seekers arriving by boat. London-born Abbott ended six years of Labor party rule when his right-wing Liberal-National coalition claimed a landslide victory in Saturday’s general election. He spent yesterday in meetings with civil servants, [...]
BBA Aviation merger talks hit the skids September 8, 2013 JUST WEEKS after the tie-up talks were revealed, discussions between London-listed BBA Aviation and StandardAero have come to an end. Dubai Aerospace Enterprise (DAE), owner of US-based engine repair and maintenance business StandardAero, said yesterday it was no longer in talks with aircraft services firm BBA Aviation to merge parts of its business. The two [...]
Verizon plans bond to finance Vodafone deal September 8, 2013 VERIZON could begin marketing the sale of up to $25bn (£16bn) in new bonds this week as part of its efforts to finance the purchase of Vodafone’s stake in Verizon Wireless. Verizon last week agreed to buy Vodafone’s 45 per cent stake in Verizon Wireless for $130bn, half of which will be financed by $61bn [...]
High profile Lib Dem MP to quit September 8, 2013 A PROMINENT Liberal Democrat MP yesterday announced she would quit politics at the 2015 general election, saying she had become disillusioned with her party’s stance on immigration and welfare reform. But the resignation of Sarah Teather – MP for the marginal London seat of Brent Central – was met with a combination of soulsearching and [...]
Mike Ashley’s Sports Direct on track for FTSE 100 promotion September 8, 2013 THE FTSE 100 is set to become a more colourful place this week with Sports Direct – controlled by Newcastle United owner Mike Ashley – on track for promotion to Britain’s leading share index. Many pension funds that track the FTSE 100 will then be obliged to buy shares in the company, which has both [...]